Shearson Reshuffles Its Model Stock Portfolio

NEW YORK — Shearson Lehman Hutton Inc. said it has reshuffled its model investment portfolio to emphasize stocks it believes will fare well in a scenario of higher interest rates and a weaker dollar.

Shearson chief investment strategist Michael Sherman said he has added Kimberly-Clark Corp., Hewlett-Packard Co., Genuine Parts Co., Walt Disney Co., Melville Corp., Anheuser-Busch Cos., Coca-Cola Co., Squibb Corp., Loews Corp. and Bristol Myers Co. to the model portfolio.

“They are all long-term growth companies with very good balance sheets,” said Sherman, adding that many of the stock have overseas businesses which should benefit from a lower dollar.